CONTEMPORARY ECONOMY JOURNAL

6-13

Authors: Gabriela ANDRIȘAN, Andra MODREANU

The last several years have had a significant impact on how opportunities are evolving and how adaptive the business sector must be to continue pursuing successful corporate plans. Many businesses have begun to innovate and reuse their resources as a result of these structures, allowing them to continue operating despite the current economic circumstances. The goal of this paper is to highlight the importance of innovation within the context of a sustainable company strategy. Furthermore, it leads to a clearer understanding of how this type of organization has been able to respond to changing market conditions and thrive rather than merely survive. Following an examination of the available literature, a summary of the most common traits and principles may be extrapolated, allowing the option of further investigation in forthcoming studies. The findings indicate that innovation plays a significant role in the success of some firms, generating distinct niches in which even a start-up can thrive. To better demonstrate their views, the writers chose Allegorie as an example, a company that relies on fashion innovations and employs this to keep its sustainable ideals. The study's findings can also be used to gain a better understanding of the current state of business models and the critical roles adaptability and sustainability play in this volatile economic climate.

27-32

Authors: Mădălina ALBU

The identification of the motivation to stimulate creativity in the university environment, as well as the main objectives and characteristics of these activities, represents the starting point in the development of a strategy for the implementation of innovation in educational management. All the changes that have appeared in the external environment in recent years have generated the need to adapt the methods of teaching, evaluation and control, so as to provide a new, innovative environment for the development of study programs. In order to be able to integrate the concepts of innovation and development in the strategy of the educational environment, it is necessary to analyze and interpret the current state of the environment in which we operate, so that all those positive aspects can be maximized in the future strategy. Also, following the analysis, the critical factors must be reduced, even eliminated in order not to generate risks in the future. The process of adapting the university educational environment to the needs of new generations must be a continuous one based on the use of the stimulating factors of innovation. The actual innovation begins with the identification of innovation opportunities and the impact they can have on the interested parties. Starting from the presentation of the current stage of the integration of innovative strategies in university management, this paper aims to identify and detail a series of proposals and recommendations that can constitute alternatives in carrying out activities specific to university education.

39-47

Authors: Corneliu-George IACOB, Emilia IORDACHE

Competitiveness is a concept with multiple meanings, which led to the appearance of an important number of definitions: we encounter the concept of competitiveness at the national level, but also at the company level. Competitiveness considers all the elements that explain the success of a nation, from a global perspective. Competitiveness looks at how both nations and firms use the totality of their skills to achieve prosperity and profit. Competitiveness is relative and not absolute because it compares the performances of nations or companies with each other. The competitiveness of a country is one of the main aspects that ensure the country's evolution at the regional and even global level. The sources of competitiveness may differ for a country depending on its economic, political, cultural position, but also on the group of countries to which it refers. Since 2010, the European Union Regional Competitiveness Index measures the main competitiveness factors for all NUTS-2 level regions in the European Union. The index measures, with the help of a set of indicators, the ability of a region to offer an attractive environment for companies and residents. Starting in 2022, this index is based on an updated RCI 2.0 methodology.

53-72

Authors: Galina SAVELIEVA, Svetlana ZAHAROV

The purpose of research is to analyse the impact of socio-demographic factors on the transition from labour activity to pension in the Republic of Moldova. Demographic factors, including migration, population decline and ageing, have led to the deformation of age structure of population in the direction of elder age groups. The growth in the number of pensioners with a reduction in employed population have conditioned to financial instability of the Social Insurance Budget and disruption of terms payment of pensions and benefits. The analysis of the importance of social factors of stopping of labour activities at retirement the comparative assessment of wages reflects as the basis for pension accrual, average monthly disposable income and amount age pension, as well as indicators of living standards of elderly population (poverty rate). The analysis of the factors takes into account the forced stopping a work and retirement when reaching the established age limit due to the existence of age discrimination in the labour legislation. Taking into account the relevance of the problem, proposals for increasing the effectiveness of state policies to regulate the transition from labour market to pension, including the possibilities of continuing labour activity, were elaborated. The article was elaborated within the framework the Scientific Project “Migration, Demographic Changes and Policies of Stabilization the Situation”, registered in the State Register of projects in the field of science and innovation of the Republic of Moldova with the code 20.80009.0807.21 of the State Program (2020-2023).

81-85

Authors: Gica Gherghina CULIŢĂ

The society we live in evolves and develops more and more. Along with this phenomenon, the needs of individuals diversify and grow. Some of these needs can be met at the private level, such as the need for food, clothing, but another part of these needs can be met at the public level, here we can mention: education, national defense, internal order. Public needs constitute one of the most important components of the social policy within a state, that is why the state allocates financial resources in order to satisfy these needs in order to increase the standard of living of the population. Public expenditures for education represent one of the main components of social-cultural expenditures, they occupy a leading place within the actions that the state finances. It is recognized the role that the education system has in the evolution and development of society, especially in the conditions of the scientific revolution, which leads to the need for modernization and continuous development of school institutions, as well as the granting of financial resources from the state budget for to finance education. From the desire to explore the state and necessary actions in the educational field, this paper aims to analyze the level of public expenditure for education in Romania and in the EU member countries.

94-106

Authors: Kenny Adedapo SOYEMI, Mariam Abosede TIAMIYU, Emily OMALE

This study examines the influence of audit quality on financial performance of 40 quoted non-financial firms in Nigeria for 10 years from 2009 to 2018. Audit quality measures adopted include audit fees, audit committee experience, audit committee financial expertise, auditor tenure, and audit firm size while operating cashflow was adopted to proxy financial performance. Secondary data, panel in nature, were gathered from annual reports and audited accounts of these firms that were selected using a stratified sampling technique. Thereafter, ordinary least squares (OLS) was adopted to estimate the model specified for this study. The result revealed significant and positive influence of audit tenure and audit firm size on operating cashflow. Further, there were insignificant and positive relationship between audit fees, audit committee experience and operating cashflow, as well as insignificant and negative relationship between firm size and operating cashflow. Consequently, this study recommends a sustained audit tenure regulation among professional firms, alongside continuous engagement of the Big4 firms to improve on firms’ financial performance. In addition, small and medium local indigenous professional accounting firms should adopt an expansion strategy, through mergers and acquisition to improve capacity, thereby ensuring consideration for sustained engagement by large firms (clients).

113-127

Authors: Lilia SAVA, Valentina TÎRȘU

Human resources are the key factor in ensuring the success of any economic entity. The value of personnel increases as they accumulate new knowledge, abilities, skills, and competences that allow them effectively to carry out their work tasks and responsibilities. Ensuring performance both at an individual and organizational level can be achieved by employees who have the highest professional knowledge and skills, developed through professional training of employees, which has become a strategic factor and a source of competitive advantage. The purpose of this paper is to investigate the professional training needs of employees, to develop training objectives, and to identify the benefits and drawbacks of this activity in order to implement training activities within economic entities.

137-144

Authors: Mădălina TOCAN

Research, development and innovation play an important role in ensuring sustainable economic growth. By producing new knowledge, research is essential to the development of new and innovative products, processes and services that contribute to increased productivity, industrial competitiveness and ultimately prosperity. For this reason, the encouragement of the research-development and innovation activities has become now an extremely important imperative of the modern socio-economic and technological policies in developed and less developed countries. The present paper tries to present an overview of the efficiency of the research, development and innovation system in Romania in a global context. The analysis of the Global Innovation Index shows that the existing research-development-innovation system in Romania is not able to ensure overcoming the condition of being a modest innovator, due to some of its weaknesses. Thus, Romania is in a not exactly favourable situation, a fact that influence in a negative way the country's competitiveness and long-term growth prospects.

153-160

Authors: Vasile SECRIERU

In this article, the author starts from the observation that public financial management, including public financial control and audit, must take into account the problems and risks inherent in the public institution model itself, but also those specific to a country and its public sector at a certain time. Applying methods such as the method of scientific abstraction, the method of induction, the method of deduction, analysis and synthesis, the author comes to the conclusion that the safest public sectors, implicitly public institutions, are those from countries with developed democracies, namely - Denmark, Finland and Norway, followed by those from Germany and Canada. The following, according to the level of risks, are some post-socialist countries: Estonia, Slovakia, Slovenia, Lithuania, Latvia, Poland. Hungary, Romania and Bulgaria represent countries with public sectors facing high risks related to corruption and government effectiveness. Armenia and the Republic of Moldova face high risks at the level of the sector and public institutions. This finding suggests the conclusion about the lack of efficiency and effectiveness of the internal and external public financial audit activity.